Spot rate was down on the cotton market on Monday on falling demand by mills and spinners, dealers said.

The KCA official spot rate was lowered by Rs 100 to Rs 5,500, they said.

Seedcotton prices in Sindh were at Rs 1800-2300 and in the Punjab at Rs 2200-2650, they said.In ready dealings over 5000 bales of cotton changed hands at Rs 5100-5800, they added.

According to the market sources, mills and spinners did small buying of cotton on expectations of decline in the prices.

In the meantime, the exporters showed comparatively better purchasing interest in low type.

Slow demand by foreign buyers forced the ginners to lower asking prices, which attract the local exporters, they said.

Exporters were willingly busy in purchasing cotton after the approval of European Union (EU) package for country’s textile sector, they said.The following deals were reported: 400 bales of cotton from Faqir Wali at Rs 5100, 1100 bales of cotton from Haroonabad at Rs 5200, 400 bales of cotton from Vehari at Rs 5300, 600 bales of cotton from Yazman Mandi at Rs 5325, 400 bales of cotton from Fort Abbas at Rs 5400, 400 bales of cotton from Hasil Pur at Rs 5400, 200 bales of cotton from Dunia Pur at Rs 5600, 200 bales of cotton from Basti Malook at Rs 5700, 400 bales of cotton from Sadiqabad at Rs 5800, 400 bales of cotton from Rahim Yar Khan at Rs 5800, 600 bales of cotton from Khan Pur at Rs 5800, 400 bales of cotton from Mian Wali at Rs at Rs 5800.